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RBNZ welcomes new NZFMA role

12
July 2012

The Reserve Bank
has welcomed today’s announcement by the New Zealand Financial
Markets Association (NZFMA) that it has taken on the role of managing New
Zealand’s standardised over-the-counter derivatives documentation.
This role was previously undertaken by the New Zealand Bankers’
Association.

Deputy Governor Grant Spencer said: “Standardised
documentation is an important component of managing legal risks in financial
market transactions. Having the NZFMA’s broader membership base
involved with the development and use of this documentation is a positive
step.”

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